Cost of Living in Greece

Expenses of living in Greece

Greece is a country of rich history, impressive culture and architecture, amazing cuisine and established traditions. The ancient place is also well-known for the great Mediterranean climate and hospitable people, which contribute to the appealing possibilities of having a satisfying and calm, yet exciting island lifestyle.

Despite the serious crisis of 2020, Greece is still considered a country with a progressive economy that provides a well-developed job market and labour opportunities.

Not only that but the costs of living in Greece are surprisingly lower compared to other European countries. From household and food outlay to healthcare and transportation expenses, the prices are quite reasonable. An average of €1230 for monthly costs, including rent, is completely enough for a single person to live comfortably with no harsh restrictions on their spending budget.

Whether you’re moving to Greece, or temporarily relocating, it’s a good idea to get more detailed information of what costs you would have as an expat.

Opening a Bank Account in Greece

Setting up a bank account is one of the first things you need to do when you move to a new country. After you choose a bank and arrange an appointment, it’s time to prepare the documents that you need to be able to open your Greek bank account. The bank will require the following papers:

  • valid passport
  • AFM (Arithmo Forologiko Mitro) number – it’s a tax number that you get from the closest to your address in Greece Tax Office
  • proof of address – for example, a recent utility bill receipt
  • proof of income
  • reference from your previous bank in your home country
  • copy of a birth certificate

The process of setting up the account is not that difficult and it doesn’t take long.

What about opening an account while you’re still in your home country? Unfortunately, Greek domestic and international banks don’t offer the service of opening an account online. You can do that only in person, so you’ll be able to set an account after you’re already in Greece.

Accommodation Cost in Greece

Rent costs in Greece are relatively low, though they vary depending on the location and the type of the property. Rental homes range from modern flats to rustic houses to make you feel like you’re in a vintage movie.

You can expect to find a home at these prices:

Type of Property Average Prices
One-bedroom apartment in the city centre €333.11
Three-bedroom apartment in the city centre €573.70
One-bedroom apartment outside of the centre €277.64
Three-bedroom apartment outside of the centre €477.84

We must mention that utility bills are not included in the cost of rent, so you’ll have to spend some additional money on them.

As to how to find a place, it’s usually an easy job. Browsing online platforms or using professional services of real estate agents is always an option, but also word-of-mouth shouldn’t be neglected. Greek people are generally very welcoming and are keen to help immigrants, so this is a way to find a home, too.

And for those who have enough funds, buying a property is a good alternative. Here are the prices per square meter:

Average Prices
Price of square meter of an apartment in the city centre €1,507.25
Price of square meter of an apartment outside of the centre €1,299.51

Of course, buying a property comes with paying some extra fees – transfer tax, registration fee, notary fee, and so on. Once you are an owner, you are allowed to rent out your apartment or a house and have some good rental income.

Cost of Utility Bills

Since monthly household expenses aren’t included in rent cost, let’s review them here:

Average Prices
Price of basic utilities such as electricity, water, heating, cooling, garbage fee €149.91
1 min. of prepaid mobile tariff local (no special offers, discounts or plans) €0.38
Internet (60 Mbps or more, unlimited data, cable/ADSL) €32.89

These are the average costs for utility bills that a single person pays a month. And a family of three spends around €300 on utility bills.

Transportation Expenses

Transport, no matter personal or public, is an inevitable part of everyday life. So, first, take a look at the prices of public transport tickets:

Prices
One-way standard ticket €1.30
One-way ticket for students and senior citizens €0.60
Day-pass €4.50
5-day ticket €9
Monthly price €30
Taxi (cost of boarding) €3.50
Taxi (1km) €1

Driving your own car or any other type of vehicle in Greece is a bit challenging, but for those who intend to do so, we’re sharing the price of fuel, too. According to a report of latest data, 1L of petrol/gasoline costs €1.56.

Cost of Necessities

When it comes to necessity goods such as food, health care, personal care and more, Greece is super affordable.

Food Costs in Greece

A great benefit of living in Greece is the access to delicious and natural food items, like seafood, olives and olive oil, fruits and vegetables, bread, etc. Here is a breakdown of the prices of basic foods that will definitely be present in your kitchen:

Type of Product Average Prices
Loaf of bread €0.85
Rice (1kg) €1.67
Eggs (12) €3.12
Milk €1.17
Cheese (local) (1kg) €7.96
Chicken fillets (1kg) €6.75
Beef round (1kg) €9.05
Apples (1kg) €1.53
Bananas (1kg) €1.48
Oranges (1kg) €1.06
Tomatoes (1kg) €1.38
Potatoes (1kg) €0.82
Onions (1kg) €0.78
Lettuce €0.69
Water (1.5L) €0.78
Olive oil (1L) €3.08
Bottle of wine €6
Beer €1.35

Let’s see the prices of restaurant meals for when you’re not in the mood for home cooking:

Average Prices
Meal, inexpensive restaurant €10
Three-course meal for 2 people in a mid-range restaurant €35
McMeal ad McDonald’s (combo) €6
Cappuccino €2.87
Coke/Pepsi €1.67

Attire Costs

And what about clothing and shoe expenses? Here, have a look:

Type of Clothing Average Prices
Pair of jeans €70.02
Dress in a chain store (Zara, H&M, etc.) €30.01
Pair of Nike trainers €71.39
Pair of leather shoes €88.06

Sports, Leisure Time, and Health Care Costs

Of course, everyday life includes some additional expenses related to your health and entertainment activities.

Average Prices
Fitness club (monthly fee) €33.74
Tennis court rent (1 hour on weekend) €16.35
Cinema (1 seat) €8
Museum (i regular ticket) €5-10
Health care (single person, per month) €376

Takeaways

The cost of living in Greece is quite cheap compared to other countries. So, the country is an excellent choice if you search for a place with breathtaking beaches, a warm climate, delicious food, and easygoing life at low costs.

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